Kapas prices slumped by Rs 46 to Rs 985 per 20 kilos in futures trade today as participants indulged in offloading positions in sync with a weak trend at the physical markets.
Marketmen said trimming of positions by speculators, triggered by a subdued trend at the physical markets, mainly brought down kapas prices in futures trade here.
At the National Commodity and Derivative Exchange, kapas for delivery in February tumbled by Rs 46 or 4.46 per cent to Rs 985 per 20 kg, with an open interest of 3 lots.
The delivery for the most-traded April also dipped by a similar margin to trade at Rs 985 per 20 kg, clocking an open interest of 9,638 lots.
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